The Ministry of Finance issued a decision to remove 22 professions from the category of tax assignment on lump-sum income, and transferred them to the real profit taxpayer, as of the beginning of next year.
The decision applies to the profession of investing in printing presses, publishing and distribution houses, and the profession of journalism (magazine or daily newspaper).
It also includes bakeries (making bread and cakes), making sweets, jams and chocolate, making soft drinks, making biscuits, pasta and vermicelli, trading (vegetables, fruits) imported or local items, and factories for soft drink factories.
In addition to the profession of offices selling used vehicles, the profession of selling motorcycles and ordinary cars, the profession of parking garages, selling new rubber tires, manufacturing car batteries, manufacturing fire extinguishers, making and selling asphalt shingles, travel offices that use buses, and the profession of investing stone, sand and marble quarries, and the profession of investing in parks, hotels of the third degree and above, internal freight offices, wedding halls, according to the decision.
The decision emphasized that the new taxpayers must submit a written statement of their net annual business results to the financial departments, according to a specific deadline.
The lump-sum income tax is imposed on the basis of the net profits of taxpayers estimated by the rating committees, while the real profits tax is higher as it is calculated according to the annual profit data that the taxpayer submits to the Ministry of Finance.
At the beginning of this year, the Ministry of Finance announced the formation of a new committee to “study the tax system, review tax legislation, and propose legislative amendments to tax policy,” according to a ministry statement posted on “Facebook.”
The committee aims, according to a statement by the Director General of the Tax Authority, Munther Wannous, to the local “Sham FM” radio, to completely re-examine the tax system, work to achieve tax justice, combat tax evasion, and achieve appropriate revenue for spending operations.
On the 4th of last November, the Ministry announced that the public revenues collected during the current year had increased by 160 percent over their value in the same period last year, due to the increase in tax and customs revenues.
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